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Former Member
Jun 04, 2009 at 05:01 AM

Reversal of wrong capitalisation


Dear Friends,

The asset acquisition entry in my case flows from CWIP a/c to Main asset a/c at the time of capitalisation. Now i want to reverse this entry from main asset a/c to CWIP a/c as it was wrongly capitalised.

Assume the above said transaction's date is 12-03-2009, Fiscal year 2008. Now in AIST when i was trying to reverse my CWIP a/c, it allows me to reverse the assets on a LIFO basis. ie. assets on 31-03-2009, then on 290309.....

But actually i want to reverse only my 12-03-09 tansaction and not other transaction. So can any one of you help me how to reverse my only one transaction entry on 12-03-2009.